Types of Debt
There are basically (2) types of debt: unsecured and secured. Our Consumer Credit Counseling Agency can consolidate most unsecured debts and some secured debts in the Debt Management Program. Unsecured debts are debts that are not tied or secured by real property. Below are examples of unsecured and secured debts.
MOST UNSECURED DEBTS AND SOME SECURED DEBTS CAN BE CONSOLIDATED INTO THE DEBT MANAGMENT PROGRAM.
HERE IS A LIST OF TYPICAL UNSECURED DEBTS:
Bank Credit Cards
Most Other Credit Cards
Retail Store Accounts
Gasoline Credit Cards
Some Personal Loans
Medical Bills
Some Collections Accounts
Some Finance Company Loans
Home Improvement Loans
Some Credit Union Accounts
Some Student Loans
Other Unsecured Accounts
MOST SECURED DEBTS AND SOME UNSECURED DEBTS CANNOT BE CONSOLIDATED INTO THE DEBT MANAGEMENT PROGRAM.
HERE IS A LIST OF TYPICAL SECURED DEBTS:
Automobile Loans
Home Loans
Equipment Loans
Motor Home Loans
Other Property Secured Loans
Utility Bills
Wage Garnishments
Alimony Payments
Secured Credit Cards
Court Judgments
Cellular Phone Accounts
Payday Loans
Child Support Payments
Internal Revenue Service (IRS) Debts
SBA Government Loans